The present invention relates generally to automated teller machines, and, more specifically, to using automated teller machines for segment of one marketing.
Banks face an increasing challenge in gaining and retaining customers with competition from non-bank services heating up and the market remaining saturated with a large number of banks. The goal of financial institutions centers on increasing the array of financial products sold to a consumer. Reaching or gaining a customer's interest to achieve this goal becomes an even greater challenge since a majority of bank customers rarely enter a bank, but instead use an automated teller machine (ATM).
However, there remains a substantial opportunity for banks to increase the array of financial products sold to customers through cross-selling activities. A typical bank offers a substantial number of financial products to the average household customer, with each customer typically using only one or two of the products. By increasing the number of products sold to the customer, a bank has a greater chance of retaining that customer.
A bank has limited opportunities in reaching existing or potential customers. Advertising flyers promoting bank products is one method. Telephone banking is another method wherein recorded messages may be used to promote the products. A customer may also be informed of various bank products upon opening of an initial account with the bank. Since a significant number of customers now use ATMs for conducting their banking services, the ATM offers yet another method for reaching customers and fulfilling the goal of enabling banks to better target new and existing customers and increase the array of financial products sold to a customer. Cross-selling and increasing product penetration is a desired objective of financial institutions which may be effected using ATMs.